Google, Inc. announced today a definitive agreement to buy
DoubleClick, Inc., an online advertising company, for a sum of $3.1 billion in
cash. The web search giant is acquiring the advertising company
from San Francisco-based private equity firm, Hellman & Friedman along with
JMI Equity and management.

According to the press release, "the acquisition will combine
DoubleClick's expertise in ad management technology for media buyers and
sellers with Google's leading advertising platform and publisher monetization
services."

Google says the combination of the companies will enhance targeting, serving
and analyzing online ads of all types, benefiting consumers by:

For users, the combined
company will deliver an improved experience on the web, by increasing the
relevancy and the quality of the ads they see.

For online publishers, the
combination provides access to new advertisers, which creates a powerful
opportunity to monetize their inventory more efficiently.

For agencies and advertisers,
Google and DoubleClick will provide an easy and efficient way to manage
both search and display ads in one place. They will be able to optimize
their ad spending across different online media using a common set of
metrics.

"This transaction will strengthen our advertising
network by expanding our access to publisher inventory and enabling us to serve
the needs of a broader set of advertisers and ad agencies," said Tim
Armstrong, Google's President, Advertising and Commerce, North America.

Google and DoubleClick have both approved the transaction, which is expected to
close by the end of the year. Speculation of the sale began several months ago when reports surfaced that a $2 billion dollar deal was in the works.